What are Closing Costs?

"Closing Costs" are the fees which pay for various services involved in the sale of a house. Buyers and sellers almost always negotiate these closing costs.

As the list below indicates, many of the costs result from getting your mortgage. At Sky Apply Mortgage, Inc, we have extensive experience in mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate is based on our past experience. It's important to note that while our LEs are very precise, we cannot always predict closing costs to the penny. We go over LEs with buyers almost every day, so we will be happy to answer the you have about closing costs.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your application. At Sky Apply Mortgage, Inc, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable

At Sky Apply Mortgage, Inc, we answer questions about closing costs every day. Call us: 8132007931.

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